Positive Montana Jobs Report Tempered by High Prices
You're probably not having a problem finding a job in Montana as winter comes to an end. But being able to make enough to afford the necessities of life is another question entirely.
That's the two major themes from the release of the latest data from the Bureau of Labor Statistics on Friday.
The report shows an amazing drop in Montana's unemployment rate, down to just 2.5% in January, which the state says is the lowest on record. It even eclipses the extremely low numbers that existed just before the 2008 recession. And it means Montana has the 4th lowest jobless rate in the entire United States.
Governor Gianforte loves the news
"Hardworking Montanans continue to drive our state’s growing economy, despite severe national headwinds. Montanans are setting new records for job creation, business creation, and employment,” Governor Gianforte said.
“With them in mind, we’ll keep building on our pro-business, pro-growth, pro-jobs agenda so more Montanans can thrive, prosper, and achieve the American dream.” -Gov Gianforte
However, the good news comes with some bad
You could very well be working, but working two jobs to be able to buy what you need. The BLS report also shows that, nationwide, prices have skyrocketed at the start of 2023.
Grocery prices are causing one of the biggest impacts, with an increase of 10.2% over the past year.
- Eggs, up 55.4%
- Poultry, up 9.5%
- Milk, up 8.1%
- Coffee, up 11.4%
- Fruits and vegetables, up 5.3%
- Baby food and formula, up 9.8%
Not only have rent prices climbed by 8.2%, but it costs 12.9% to pay for your utilities, a rough burden for individuals and families on fixed incomes emerging from a Montana winter.
And if your car breaks down, you'll be paying over 12% more than last year to get it repaired.